Ponzi World (Over 3 Billion NOT Served)

The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.

Saturday, March 11, 2017

Oil No Bid Market. Deja Vu

The U.S. Oil ETF embeds the futures rollover created losses:
...Now having wiped out nearly all gains since the OPEC deal was signed on December 3rd. The last time oil fell this hard on volume and rate of change was one year ago February, when the front-month crashed into the Cushing spot market at $26/bbl WTI...

Meanwhile, updated yesterday, net spec crude futures positions have dropped from last week yet remain almost 100% higher than at the OPEC meeting in December (circled):

Junk bonds are falling in synch with oil, since junk bonds just refinanced the entire shale sector: